Negotiations on practical investment, trade, and economic cooperation with the Russian Federation

On September 17 this year, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov met with Deputy Minister of Industry and Trade of the Russian Federation A. Gruzdev, General Director of Russian Export Center JSC V. Nikishina, Director General of Russia’s National Export Credit Agency JSC N. Gusakov, Deputy Chairman of the Federation Council Committee on Agrarian and Food Policy and Environmental Management of the Federal Assembly of the Russian Federation S. Lisovsky, Director General of Kamaz PJSC S. Kogogin and Director General of the Hevel Group of Companies I. Shakhrai during Russia's Delegation visit to Tashkent.

Negotiations with the top officials of the Ministry of Industry and Trade, Russian Export Center JSC, and Russia’s National Export Credit Agency JSC considered investment, trade, and economic cooperation with a view to specific areas and initiatives. Here, the participants noted a significant potential for further strengthening of industrial cooperation. According to Russian colleagues, the pooling of resources and capacities of Russian and Uzbek manufacturers in order to create joint value chains will ensure high competitiveness of the final product when it is sold both in the markets of the two countries and when exporting to markets of third countries. They also considered opportunities for practical mechanisms enhancing the development of interregional cooperation, which demonstrated positive dynamics in recent years.

The discussion with a member of the Federal Assembly of the Russian Federation S. Lisovsky included the implementation of projects to create agrological clusters in the regions of Uzbekistan and the opportunities for the introduction of advanced Russian technologies, developments, and quality standards in this area, which will facilitate the access of Uzbek agricultural products to the Russian market.

The negotiations with the top officials of Kamaz and Hevel Companies touched upon prospects for investment in the creation of high-tech enterprises in the automotive industry and alternative energy with a high level of localization of products. The parties agreed on creation of a joint working group consisting of representatives of the Center for the Development of Investment Projects under the Ministry of Investment and Foreign Trade, as well as the Ministry of Innovative Development of the Republic of Uzbekistan and companies from the Russian Federation, which will develop specific proposals.

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